"Clack clack clack clack."
Accompanied by the dull sound of mechanical movement, the ground beneath Rorschach's feet cracked open in the sealed room, revealing a dark downward-sloping tunnel.
"Come with me. Let me show you the savings I've accumulated over the past thirty years."
Jonathan held a torch in his hand and walked ahead, with Rorschach curiously following behind, descending the steep staircase into the depths.
"So mysterious? Is the Bounty Hunter Guild really that profitable?"
Rorschach instinctively released his Observation Haki, spreading it downward along the way.
Soon, he realized the depth of this underground passage was beyond his expectations.
It seemed to extend all the way into the deep underworld.
His Haki perception was significantly weakened by the near-solid soil, rock layers, and the large amount of man-made reinforced defenses—unlike the smooth perception in open air.
"Running the Hunter Guild itself doesn't make money—actually, it might cost quite a bit for daily operations. But the bounty commission system I established allows the guild to earn tens of billions of Beli annually from the Four Seas and the Paradise."
Jonathan walked at a brisk pace.
Truthfully, he didn't need the torch at all.
Although old, he was still capable of using Observation Haki.
Rorschach's raised foot paused mid-air. In the darkness, his face couldn't be seen, but his startled voice revealed his shock.
"How much did you say?"
"Just a few hundred billion, don't be so surprised. That amount of money is just what the Gild Tesoro earns in a month. What I earn is hard-earned money. We have hundreds of guild branches across the world. Just collecting payments and reports from each region each year is nerve-wracking."
Jonathan rambled on.
Rorschach didn't fully understand the operational details he described, but the outrageous number—hundreds of billions of Beli per year—definitely shocked him.
"Hundreds of billions per year… over thirty years, wouldn't that be over a trillion?"
"It's not that much every year." Jonathan suddenly sighed. "To be honest, ever since that bastard Roger started the Great Pirate Era, our commissions from Paradise have decreased. But our earnings from the Four Seas have multiplied several times. Still, pirates in Paradise are more valuable overall."
"Why is that?" Rorschach asked curiously.
"Because once the Great Pirate Era began, people all over the world started heading to sea to become pirates every single moment.
The number of pirates once swelled to millions per year—comparable to the total population of some mid-sized kingdoms.
Only the strong survive. Those who manage to make it through all the barriers and enter Paradise are no pushovers. Hunting them becomes several times more difficult.
Although the pirates in the Four Seas are weaker, their sheer numbers are overwhelming."
"If bounty hunters kill pirates, why don't they just go to the Marines to claim the bounty? Why go through your Hunter Guild? As far as I know, Marine bases in the Four Seas also issue bounties, and they only charge a 20% fee."
Rorschach asked again.
Yes, the Marines also take a cut when issuing bounties to those who capture pirates.
Usually, they take 20% of the total bounty.
Of course, this rate isn't fixed—it's adjusted based on the local pirate population and threat level.
In areas overrun with pirates, the cut is often reduced to encourage people to hunt pirates for profit.
Back when he was a sub-lieutenant on Qianyanshan Island in the North Blue, Rorschach had studied many related documents.
"There are many reasons for that. Let me tell you some of the intricacies,"
Jonathan said as he continued descending the steep staircase, explaining the operation and commission system of the Hunter Guild.
These days, bounty hunters on the sea are divided into two types by Jonathan.
One type consists of registered hunters who have joined the Hunter Guild and have real-name identification.
These hunters can improve their rank within the guild by capturing or killing wanted criminals and receive numerous benefits.
Hunters below 4-star rank can claim 60% of a pirate's bounty through the guild.
It might seem like the guild takes a big cut—
But actually, it's only 20% more than what they'd lose going through the Marines.
When a 3-star advances to 4-star, the cut decreases by 10%.
At 5-star, the cut matches the Marines' 20%.
Above 5-star, not only is there no commission cut, but they even get a salary.
The higher the rank, the better the benefits.
But the Hunter Guild doesn't send its skilled hunters all over the world to hunt criminals every day.
The guild has its own operations and businesses.
For example: providing escorts for caravans and nobles.
Protecting towns and kingdoms.
Even responding to temporary Marine summons, acting as allied forces to raid pirate groups.
These operations generate massive profits for the guild and the hunters themselves.
Then there are the "Free Hunters."
Free Hunters have very mixed identities.
They could be commoners, royal guards, or regular pirates who refuse regulation.
And the biggest group among them—are pirates themselves!
Yes.
Rorschach heard correctly.
According to Jonathan, about 70–80% of pirates hunted and killed each year by Free Hunters… are killed by other pirates.
These pirate-hunters might slay rivals during battles or temporarily moonlight as bounty hunters when they're broke.
After killing a few bountied peers and collecting some cash, they go back to their ships and continue pirating.
For them, it's not about maximizing the bounty.
It's about safely exchanging it.
And the Hunter Guild offers them that channel.
The commission fee, however, is a hefty 50%.
A clean split.
This group of pirate-hunters—pirates themselves—accounts for the majority of the guild's annual revenue.
Because of Jonathan's background as a former Marine officer, he had opened bounty channels with the World Government from the start, securing a preferential tax rate of only 10%.
After all, the Hunter Guild still operated under a somewhat just cause and supported the World Government's rule.
"Why give pirates who kill their peers bounty money? Isn't the Hunter Guild supposed to be opposed to them?"
Rorschach asked the question lingering in his mind.
Jonathan explained: There are simply too many pirates in this world. Relying only on non-pirates to hunt pirates is like trying to extinguish a blaze with a cup of water. Giving pirates bounties for killing their peers encourages internal conflict and distrust, which prevents them from uniting into large-scale pirate factions.
The explanation made a lot of sense. Rorschach had no rebuttal.
Ten minutes later, Rorschach estimated that they had descended around 4,000–5,000 meters when they finally reached the end of the sloped stone staircase and saw a massive, heavy stone door.
He couldn't help but turn and glance back at the pitch-black tunnel behind them, clicking his tongue.
"Hey, Jonathan, this treasury you built is way too hidden. Can something this deep underground even be carved out by manpower?"
"Maybe not by manpower—but don't forget, this world has Devil Fruit powers that defy common sense."
As he spoke, Jonathan pulled out a large key from his pocket, stuck it into the lock, and turned it.
With another series of loud rumbles, the two stone doors, each over a meter thick and weighing who-knows-how-many tons, slowly opened, revealing a massive underground chamber.
Rorschach stood stunned, staring at the seamless stone walls and the endless mountain-like piles of crates, alongside heaps of gold and jewels casually thrown on the ground forming small hills.
The glittering treasure nearly blinded him.
"Holy crap… how much is all this worth?" Rorschach licked his lips in disbelief as he turned to look at the smug Jonathan, eyeing the old man up and down.
"You're not actually a dragon in disguise, are you? Coming down here every night to return to your dragon form and sleep soundly atop these mountains of gold and jewels?"
Jonathan, who was in the middle of opening a treasure chest, rolled his eyes and snapped, "Stop reading those silly storybooks. No one even knows if dragons exist. And even if they do, unless they've eaten a Human-Human Fruit, there's no way they could transform into humans."
Rorschach walked over and glanced at the wooden chest he had casually opened.
Inside was a large chest packed neatly with Beli.
Rorschach turned around and looked at the thousands of similar-sized wooden chests surrounding him, along with the piles of gold and jewels. He couldn't help but shake his somewhat dazed head.
"How much money is this?" he muttered dreamily.
"I don't know either," Jonathan said, hands behind his back, pacing beside the mountain of Beli and gold.
"It should be seventy or eighty trillion Beli. These gold and jewels are all rare antiques, worth far more than just their weight in gold. But there's too much of it — selling it all at once would be difficult."
"With this much money, I'd say you're actually the king of this Holy Poplar Kingdom. This place should really be called the Nation of Bounty Hunters."
Rorschach was speechless.
In this sealed underground space, even the air smelled like the ink of freshly printed Beli.
"In fact, the world has long called this place the Nation of Bounty Hunters," Jonathan said proudly.
This wealth was what he had earned in the second half of his life.
Though still not comparable to the world's richest individuals, everything Jonathan had earned was done with a clear conscience — no illegal or immoral dealings.
Not only was he guilt-free,
Jonathan was proud — immensely proud.
Because in his eyes, this fortune wasn't just monetary wealth.
It represented the heads and corpses of criminals with bounties on them.
This was the graveyard of hundreds of thousands of pirates who had wreaked havoc on the seas.
He had fulfilled the original purpose of founding the Hunter's Guild.
Such a monumental achievement was something even a Marine Admiral could not accomplish.
With this merit alone, calling him Jonathan Barnett, the King of Hunters, was no exaggeration.
But now, with the dwindling number of high-star hunters in the guild, the growth of this graveyard would only slow — perhaps even stop completely.
Because the Hunter's Guild now faced the same challenge the Navy once did:
No worthy successors.
No exceptional, powerful candidates were emerging.
After his death, the Hunter's Guild would be nothing but an empty shell.
Jonathan took a deep breath and revealed his thoughts to the young Marine in front of him — someone he had known for less than two days.
With an earnest look, he pointed at the vast wealth around them and said to Rorschach:
"I'm serious, Rorschach. Leave the Navy and take over the Hunter's Guild. Even if you don't like Serra, that's fine. As long as you're willing to become the guild master, all of this — everything here — will be yours."
Looking at Jonathan's sincere expression, Rorschach hesitated. "Are you serious? You trust me that much? We've only known each other for less than two days. Aren't you afraid I'm the next Gulliver? This is your life's savings. If you gave it to the wrong person, you could be creating a force powerful enough to rival a nation."
Jonathan chuckled, exposing a mostly toothless grin. "After last night's battle, I understand your character completely…"
"You can tell someone's personality and heart through a battle?" Rorschach interrupted.
"Of course!" Jonathan replied matter-of-factly. "Fighting is one of the clearest ways to reveal someone's nature, their convictions, their talent, and potential. And you…"
He looked at Rorschach with glowing eyes. "You were flawless. I haven't had such a satisfying opponent in a long time. And more importantly, you're the most outstanding talent of this generation in the Navy. My juniors in the Navy are far sharper than me — if you weren't up to their standards, would they treat you so well?"
Rorschach was speechless.
This old man was quite sharp.
But he would have to disappoint him.
Rorschach wasn't going to leave the Navy.
Perhaps seeing his intent, Jonathan sighed inwardly, a little disappointed.
But he still said to Rorschach, "Don't rush to decline. You're still young. People's views change with time. Back when I was in the Navy, I was just as passionate about justice and fighting evil. If I survive this time, I'll hang on a few more years. The guild master position of the Hunter's Guild will always be open for you…"
"Forget it."
Jonathan's words were cut off by Rorschach's raised hand.
He simply couldn't understand.
What had he done to deserve this?
To have someone willingly offer him a massive force built over decades, along with this immense fortune?
It would be a lie to say he wasn't tempted.
He didn't want to be a pirate.
But under the current circumstances, the Navy was still an instrument of the World Government — ultimately under strict control, lacking autonomy.
If he left the Navy and took charge of the Hunter's Guild, with this global organization at his disposal, it would be a tremendous help toward achieving his dreams.
But he had no reason to leave the Navy.
Everyone in the Navy treated him so well.
In his heart, he already saw the Navy as his home.
Still, although he didn't want to raise the banner of the Hunter's Guild himself, that didn't stop Rorschach from offering a small piece of advice to this respectable old man.
"President Jonathan, have you ever been to the East Blue?"
He suddenly asked an unrelated question, catching Jonathan off guard.
"What did you say?"
Rorschach chuckled. "You're just looking for a good successor, right? That's easy — I'll recommend someone."
"You're recommending someone for the guild master? Who? Someone else from the Navy? I'm warning you, if they're far inferior to you, I won't take them," Jonathan said casually.
"Not from the Navy. His strength may not match mine yet, but his potential is top-tier. He has an unshakable willpower that most can't match. If you're interested, take a trip to the East Blue. With your reputation as a dual-sword master from the old era, if you get the chance to meet him, I think there's a good chance he'll follow you here. Because as far as I know, his dream is to become the world's greatest swordsman."
Jonathan was stunned. "His dream is to become the world's greatest swordsman? What's his name?"
Once, Jonathan had the same dream — to become the world's greatest swordsman.
But in the old era, many of the top fighters were swordsmen.
Trying to dominate with a sword back then was even harder than becoming the Pirate King.
Some of the strongest known swordsmen included Golden Lion, Roger, Red Count, Rayleigh, Glingu, and others.
Each one stood at the very peak of the seas.
Although his own name as the swordmaster "Oni" later became known worldwide, Jonathan never felt he deserved the title of world's number one swordsman.
Anyone with the title of "world's number one" had to be absolutely, unquestionably powerful.
In fact, several years ago, Dracule Mihawk, the current world's greatest swordsman, had once visited and sat with him to discuss swordsmanship.
After that, Jonathan had to admit with some bitterness that this astonishing young man had already surpassed him.
"What's his name?" Jonathan asked again.
"A young man named Roronoa Zoro, from Shimotsuki Village in the East Blue."
(End of Chapter)
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